Posted by:
Amyjo
(
)
Date: August 02, 2015 11:54AM
Here's a Social Security Planner and video that might help some of you get a better idea how to project when you'd "like" to be able to retire, if assuming we have that ability to be so selective - sometimes life has other plans.
Full retirement age for SS is anywhere between 66 and 67 nowadays. If you wait until 70 you get 8% each year of your benefits added to that from your FRA. Conversely, if you retire at age 62 you take a 25% reduction of your full retirement age benefits. So depending on your health, job stability, other factors, it's kind of a dice roll.
https://www.northwesternmutual.com/learning-center/whitepapers/social-security-made-easy?cmpid=DSP-Outbrain-Whitepapers-Social_Security_WhitePaper:62#form